Net inflows into digital asset investment products have increased for 11 weeks, but last week there was an outflow of $33 million from Bitcoin.
While there has been a significant rise in the crypto market as the value of Bitcoin began to decline in recent weeks, crypto funds owned by asset managers CoinShares, Bitwise, Grayscale, ProShares and 21Shares recorded a net outflow of $ 1 million with a loss of 1,600. Thus ends the 11th consecutive week of weekly entries.
Bitcoin-based funds have experienced particularly large outflows; Last week, there was an outflow of $32.8 million from Bitcoin. He said that altcoins recorded an inflow of $21 million, while Ethereum and Avalanche recorded an outflow of $4.4 million and $1 million, respectively
CoinShares’ latest report states that this move is indicative of more profits to come. CoinShares head of research James Butterfill also explained that differences in regional flows relate to investors’ propensity to take profits rather than general sentiments across asset classes.
According to the report, these net inflows came from the US and German markets. An outflow of 18.3 million dollars was recorded from the US market and 9.7 million dollars from the German market. However, entries will continue. Inflows of $9.1 million were recorded into Switzerland and $6.9 million into Canada.
